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Loowatt

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Scaling up circular economy sanitation solutions that begin with a great toilet experience

108%
 - 
Funded 5 Jun 2023
£900,000 target
£973,040 from 381 investors
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Business overview

Location London, United Kingdom
Social media
Website Loowatt.com
Sectors Home & Personal Mixed Digital/Non-Digital B2B
Company number 07082726
Incorporation date 20 Nov 2009
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Investment summary

Type Equity
Valuation (pre-money) £9.3M
Equity offered 9.47%
Tax relief

EIS

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Business highlights

  • 1,000 new toilets scheduled for delivery to Madagascar in 2023
  • New service launching in South Africa
  • Solid base in UK events sector with partner-operated toilet fleet
  • >2.4M* revenues to date from hardware, consumables and services
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.00 +
  • Direct investment min. £20,000.00 +

Idea

Introduction

Everyone deserves a great toilet experience that also helps the planet.

Loowatt is a leader in delivering circular economy sanitation systems. We provide solutions for off-grid and urban locations, enabling service providers to deliver great toilets that don’t need water to operate.

Two thirds of the human population is without access to sewered toilets. The current alternatives are dominated by pit latrines, or chemical toilets that use toxic chemicals.

In a world of increasing water scarcity, our technology has proven product-market fit and strong traction.

Our toilet systems could transform economies and help to improve lives.

How the technology works:

Our patented sealing technology contains the waste in a few grams of polymer film lining, within a removable container.

During resource extraction, waste is delivered as feedstock to support production of energy and fertiliser at treatment sites.

Our software optimises efficiency and enables service providers to reach people in non-sewered cities with proven business models.

Substantial accomplishments to date

· We have multiple patents for our unique technology which delivers value across the sanitation value chain, from flushing the toilet to recapturing waste as a resource. The sanitation technology was developed in 2010 in the UK.

· We’ve served millions of toilet users, with glowing feedback from real people - from Madagascar to the Philippines, South Africa to the United Kingdom.

· Our pioneering home service in Madagascar, Tsinjo Soa, grew in revenue by 400% through the pandemic (2019 to 2022)*. We’re ready to scale up with established partnerships including government and multi-lateral funders.

· Our system was chosen to introduce pay-per-use home sanitation services in South Africa, a first for the country.

· Patient capital from world leaders in technology and sanitation innovation have supported the development of our unique product and system solution, including the Gates Foundation, Innovate UK, GSMA among others.

*based on unaudited management accounts

Monetisation strategy

We have made over £2.4 Million revenue to date from hardware, consumables and services.

We have proven that a great toilet experience can support new business models for sanitation servicers: from visitors to the UK’s biggest festivals willing to pay £3/go, to home users in Madagascar paying a monthly service fee.

Our Madagascar service model is scaling up by combining home and portable services, while proving a replicable model.

We sell to local service providers — an expansion strategy that leverages existing infrastructure and helps to boost local economies.

You can help us replicate this model in other regions.

You can support us to install more toilets and generate more recurring revenue.

Use of proceeds

With your investment, we plan to:

· Reduce cost of goods sold (COGs) on our core products

· Expand local manufacturing through contracts and licensing agreements

· Develop and deploy sales expansion toolkits in new countries based on the Madagascar business model, starting in South Africa

· Improve operational efficiency and ROI for our waste processing equipment, reducing barriers for entry in low-income countries (with US$ 200,000 additional support from the Development Finance Corporation’s Technical Assistance Facility)

· Create local jobs and benefit local communities

Your investment will make a difference to restore human dignity, save lives and benefit the planet. Thank you!

Key Information

Group Structure

Investors in this round are investing into and will become shareholders of Loowatt LTD, company number 07082726. This is the top company for the group.

Material Debt

The company has the following outstanding loans:

1. £458,301.00 secured loan from Innovate UK at an interest rate of 3.7% per annum. The loan is to be repaid on October 2025 (based on current agreements with InnovateUK that are subject to
renegotiation based on company circumstances).

2. £100,000 Director's loan at an interest rate of 0.15%. The loan is to be repaid when the company has been consistently profitable for at least 6 months.

4. £5,068.00 non-interest bearing directors loan from Virginia Gardiner to be repaid when cash resources allow it.

The funds raised from this investment round will not be used to repay these loans.

Lead Investment

£527K of the investment reflected in this campaign was received by the Company in October and November 2022 and the Company has started putting this to use. The funds from this round will provide 12 months' runway.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £9,302,600

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
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  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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